Barclays plans to price capped market plus notes linked to palladium

By Jennifer Chiou

New York, April 26 - Barclays Bank plc plans to price 0% capped market plus notes due May 14, 2012 linked to the spot price of palladium, according to an FWP with the Securities and Exchange Commission.

If the price of palladium on the final valuation date of May 9, 2012 is greater than or equal to 80% of the initial price, the payout at maturity will be par plus the greater of the contingent minimum return of 7.4% and the palladium return, subject to a maximum return of at least 20%. The actual maximum return will be set at pricing.

Otherwise, investors will receive par plus the palladium return, with full exposure to losses.

The notes (Cusip: 06738KJA0) will price on May 3 and settle on May 6.

J.P. Morgan Chase Bank, NA and JPMorgan Securities LLC are the lead agents with Barclays Capital Inc. as co-agent.

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